RALEIGH, N.C. - A credit union’s own analysis of piggybanks it was distributing to young members has led to a national recall of the items as they pose a potential health threat.

WEST PALM BEACH, Fla. - It was 10 years ago President Clinton culminated an extraordinary effort by CUs when he signed HR 1151 into law. We want to know about your memories: meeting with representatives, getting petitions signed, and so much more. You’ve got 200 words to do it. Take a moment and click on the Letters to the Editor tab in the left-hand nav bar on cujournal.com and share your thoughts. (c) 2008 The Credit Union Journal and SourceMedia, Inc. All Rights Reserved. http://www.cujournal.com http://www.sourcemedia.com

WEST PALM BEACH, Fla. - CU Journal gives readers the opportunity to weigh in on a variety of issues. Below are the results of a recent online poll. To add your two cents or see past surveys, visit www.cujournal.com.

ALEXANDRIA, Va. - Spiraling losses throughout the credit union industry in many cases will end up with NCUA, which has taken under conservatorship or has plans to take over several of the biggest credit union losers.

BOISE, Idaho - TruGrocer FCU, formerly known as Alberstons Employees FCU, was granted a TIP charter to serve all of the nation’s supermarket employees, NCUA said.

SAN DIEGO - Mitek Systems said it has introduced the first mobile banking software that will capture paper checks and other images over cell phone cameras for use by credit unions and banks.

SAN DIEGO - The first two grants from CU Aid–a centralized disaster relief fund-raising mechanism offered by the National Credit Union Foundation (NCUF) and dedicated to helping credit unions, their employees, and members recover from major disasters–were handed out in the San Diego area, one of the hardest hit by the wildfires that ravaged Southern California last year.

LEVEL 5 Helps MFCU Expand

HARRISBURG, Pa. - The Pennsylvania Credit Union Association is looking for volunteers to serve on a green advisory committee. Members will discuss how credit unions can be leaders in going green and protecting the environment. No travel will be required. (c) 2008 The Credit Union Journal and SourceMedia, Inc. All Rights Reserved. http://www.cujournal.com http://www.sourcemedia.com

WALL STREET - Fitch Ratings affirmed the long- and short-term issuer default ratings for U.S. Central FCU at its highest AAA and F1+, respectively, but changed the overall rating outlook for the corporates’ corporate to “negative” from “stable” due to U.S. Central’s continued exposure to the subprime mortgage market. U.S. Central’s “balance sheet has a low-risk profile and its funding and liquidity positions remain strong,” said Fitch. “At the same time, Fitch recognizes USC’s exposure to the troubled mortgage market, particularly non-prime mortgage-backed securities, which have generated meaningful losses and has heightened credit risk on the balance sheet.”

Regulators Warn Of Scams

HARTFORD, Conn. - Connex CU is seeking families to compete for up to $10,000 in its first “Savers Challenge” contest. The four families will measure their success against predetermined goals based on their individual financial situations. Their progress will be monitored on local television throughout the year. Winners of the contest will earn $10,000. (c) 2008 The Credit Union Journal and SourceMedia, Inc. All Rights Reserved. http://www.cujournal.com http://www.sourcemedia.com

DENVER - Officials of Public Service CU will be trying over the next few weeks to stem the outflow of deposits from Norlarco CU, the failed $290-million credit union it won the bidding for last month.

ALEXANDRIA, Va. - Credit unions moved billions of additional dollars into their loan-loss reserves in the fourth quarter, creating some of the biggest losses in the history of the industry, according to preliminary fourth quarter data submitted to NCUA.

ORLANDO, Fla. - Credit unions seeking to grow have no choice but to look to new and different sources of fuel for that growth, and that’s where REAL Solutions says comes in.

LOUISVILLE, Ky. - L&N FCU said it received a $150,000 grant from the Federal Home Loan Bank of Cincinnati, which it will use to provide down payment assistance for a local affordable housing project. The Cincinnati FHLB also provided a $66,150 grant to Dayton Firefighters FCU, which is helping the local chapter of Habitat for Humanity build a 10-unit affordable housing project. The grants were among 65 totaling $16 million handed out last week by the FHLB to 40 institutions in Ohio, Kentucky and Tennessee. (c) 2008 The Credit Union Journal and SourceMedia, Inc. All Rights Reserved. http://www.cujournal.com http://www.sourcemedia.com

NEW YORK - More than 405,000 households were foreclosed upon during 2007, a whopping 51% increase over the 268,532 homes foreclosed upon in 2006, according to new data. During December 2007, foreclosure filings were up 97%, according to RealtyTrac, an online seller of properties in foreclosure.

JACKSONVILLE, Fla. - Community First Credit Union of Florida has broken ground on the first green-certified branch in the area.

ALEXANDRIA, Va. - Above, NCUA board member Gigi Hyland hosts a web seminar last week on 2008 examination issues from the agency’s headquarters. Joining Hyland were, at left, Information Systems Officer Dominick E. Nigro, Jr, and Economic Development Specialist Supervisor Debra J. Tobin. (c) 2008 The Credit Union Journal and SourceMedia, Inc. All Rights Reserved. http://www.cujournal.com http://www.sourcemedia.com

DALLAS, Texas. - Credit Union Resources Inc., the wholly owned service corporation of the Texas Credit Union League, has partnered with Affiliated Power Purchasers International. The AAPI Savings Solution program assists TCUL members in reducing electricity and natural gas costs. (c) 2008 The Credit Union Journal and SourceMedia, Inc. All Rights Reserved. http://www.cujournal.com http://www.sourcemedia.com